Get Rid of Late Payments on Credit Report

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Published: 03rd November 2010
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It is a widely known fact that late payment can cause negative effects on one’s credit score. A simple 90 day late payment can have the same effect as that of a bankruptcy, a lien, a judgment or repossession. The amount does not matter as it can be as small as a


$40 late payment or a $5,000 late payment as the only thing that matters is that you made a late payment and you must face the consequences that comes along with the tardiness. It should be noted that about 35% of my credit report is based on payment punctuality.





Paying your bills on time is one of the many things that you can do to help you get a better and much higher credit score. Late payments have negative effects as it will give lenders and credit issuers a negative impression about your sense of responsibility when it comes to repayment. Remember that late payments can stay on your and my credit report for as long as 7 years after the missed payment. Imagine yourself enduring the long term effects of paying late for an amount that is not that big. If you are one of the many who has the goal of "remove late payments of my credit report, read further and


follow the easy steps on how to do it.





1. Finding yourself going through a lot of "how do I fix my credit report?" moments by removing late payments, you need to acquire a copy of your latest credit report first. Take advantage of the free credit reports issued by the big three credit bureaus every 12


months.





2. The next step to fix my credit report by removal of late payments is by asking for a "goodwill adjustment" from the original creditor. This request will actually ask your lender to remove the late payment on your credit report. Most of the time creditors are more than willing to grant these "goodwill adjustments" requests of their clients, most especially those that the have good relationship with.





3. If the "goodwill adjustments" won’t work, you can also offer to sign up for automatic payments in exchange of the removal. This is a win-win situation for both parties as the creditor can be sure about payments to be made on time in the future and you are free of the terrible effects of late payment on your credit report thus you stop asking yourself how to clean up my credit report?





4. In cases where the late payment on your credit report is false, dispute it as inaccurate. Remember that credit reports are far from perfect, it pays a lot to check each and every thing that you can finding it as there might be errors which you would not be able to


see if you won’t exert extra effort in reviewing it over and over again. Remember that whatever the credit bureaus can not prove they have to remove.

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